During 2020, Fresh Express Company sold 2,390 units of its product on September 20 and 2,450...

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During 2020, Fresh Express Company sold 2,390 units of its product on September 20 and 2,450 units on December 22, all at a price of $79 per unit. Incurring operating expenses of $16 per unit sold, it began the year with and made successive purchases of the product as follows: January 1 beginning inventory 490 units 05 24 per unit Purchases: February 20 May 16 December 11 Total 1,390 units @5 26 590 units 8530 3,190 units $31 5,660 units per unit per unit per unit Required: Prepare a comparative income statement for the company, showing in adjacent columns the profits earned from the sale of the product, assuming the company uses a perpetual inventory system and prices its ending inventory on the basis of (a) FIFO and (b) Moving weighted average: (Round "Cost per unit" to 2 decimal places. Do not Round intermediate calculations. Round your final answers to 2 decimal places.) FRESH EXPRESS COMPANY Income Statement Comparing FIFO and Moving Weighted Average Inventory Costing Methods For Year Ended December 31, 2020 Mwinn Wainhtad < Prev 6 of 10 Next > Check my work During 2020, Fresh Express Company sold 2,390 units of its product on September 20 and 2,450 units on December 22, all at a price of $79 per unit. Incurring operating expenses of $16 per unit sold, it began the year with and made successive purchases of the product as follows: January 1 beginning inventory 490 units 05 24 per unit Purchases: February 20 May 16 December 11 Total 1,390 units @5 26 590 units 8530 3,190 units $31 5,660 units per unit per unit per unit Required: Prepare a comparative income statement for the company, showing in adjacent columns the profits earned from the sale of the product, assuming the company uses a perpetual inventory system and prices its ending inventory on the basis of (a) FIFO and (b) Moving weighted average: (Round "Cost per unit" to 2 decimal places. Do not Round intermediate calculations. Round your final answers to 2 decimal places.) FRESH EXPRESS COMPANY Income Statement Comparing FIFO and Moving Weighted Average Inventory Costing Methods For Year Ended December 31, 2020 Mwinn Wainhtad < Prev 6 of 10 Next > Check my work